FX.co ★ Sensex, Nifty Open Higher On Fed Rate Cut Hopes

Indian shares started Friday on an optimistic note following data indicating an unexpected decline in consumer prices for June, fueling expectations for two Federal Reserve rate cuts this year.

The S&P BSE Sensex rose by 135 points, or 0.2%, reaching 80,033 in early trade, while the broader NSE Nifty index increased by 53 points, or 0.2%, to 24,368.

TCS surged nearly 3% after posting an 8.7% rise in first-quarter net profit, exceeding forecasts.

HCL Technologies saw a 0.5% uptick ahead of its earnings release.

Infosys gained 2% following the acquisition of an order from the Delaware Labor Department.

Shipping Corporation of India jumped 5.7% after the Union Ministry of Shipping reportedly proposed a joint venture between the state-run company and a public sector oil marketing company to manufacture very large oil tankers.

Rashtriya Chemicals & Fertilizers soared by 6.4% after its board placed a purchase order worth Rs 514.55 crore with Topsoe A/S for revamping its ammonia plant.

Oriental Rail Infrastructure advanced 5% after securing a Rs 432 crore order from Indian Railways.

SJVN added 2% following data showing that LIC had increased its stake in the state-run hydropower company to 2.26%.

Prestige Estates Projects climbed 0.6% after releasing its Q1 sales data.

Power Finance Corporation saw a slight increase after the government appointed Sandeep Kumar as Director of Finance.

Adani Wilmar rose 1.1% following its agreement to acquire a 67% majority stake in Omkar Chemical Industries in Gujarat.